News Corp. is bullish on the movie business

JonFriedman

NEW YORK (CBS.MW) -- News Corp.
NWS, -1.47%
is focusing on profits, not market share, when it comes to the movie business, Peter Chernin, the president of News Corp., said at a Merrill Lynch investment conference in California. Its film business is booming, as it has retained the No. 1 market share over the summer, Merrill Lynch observed. Chernin has been mentioned prominently in media speculation as a possible successor to Michael Eisner, the chief executive of Walt Disney
DIS, -1.35%
who is set to retire in 2006.

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